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IIRC issues two assurance on integrated reporting papers

Jul 31, 2014

The International Integrated Reporting Council (IIRC) has published two assurance papers which provide an overview of assurance and its relationship to integrated report (<IR>). The papers are intended to stimulate global discussion for those interested in assurance.

The first paper, Assurance on <IR>: an introduction to the discussion, provides a high-level outlines of the benefits of assurance and addresses practical and technical challenges. The paper notes that mechanisms, such as assurance, are “likely to be important for the long term credibility of integrated reports.” However, there are current challenges that need to be addressed to ensure consistency and robustness in assurance processes.

The second paper, Assurance on <IR>: an exploration of issues, provides a detailed look at the issues when applying assurance to integrated reporting, which include:

“The suitability of criteria

Auditing or assurance standards that might be applicable or considered to be useful in developing assurance methodologies related to <IR> and related implications

Whether assurance should be obtained in relation to the process of preparing the integrated report or the integrated report itself

Potential levels of assurance, including the same level of assurance, varying levels of assurance and carve-out of areas on which other assurance practitioners reported

Considerations when performing an assurance engagement, including those regarding narrative information, future-oriented information, connectivity, and using the work of others.”

The IIRC requests that any responses concerning the two papers be submit by December 1, 2014.

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